Binance NonVerified Account?

[kryptqnick]

If KYC is an issue, I think you should just withdraw what you have and leave Binance for good. I'm not sure where I stand with KYC, and I haven't decided what to do with some alts I have on Binance yet. The sum is very small, and I don't want to bother with wallets for it, but I'm also not a fan of KYC, so for now I just leave the coins where they are and ignore Binance notifications. Maybe it's not a good strategy, but Binance is a reputable exchange, and KYC is becoming more common throughout the years. What I have on Binance is something I don't intend to touch for a year or more, and I'm sure it'll still be there when I come back. The sum is insignificant to me, so that's why I choose the laziest strategy of doing nothing with the updated policy.

[jerry0]

I never submitted any form of verification.  What is basic verification step one?

The verification needed for you to be able to continue to trade requires a valid ID. So, passports, drivers license, those things.

The other thing is this.  I have a few altcoins and some btc.  Do you suggest i trade those altcoins for btc or stablecoin?  The thing is for btc... i have very little there... i dont think i even cover the btc withdraw fee?  So what do i do there then?

If your BTC can't even cover the withdrawal fee, then I guess you have no choice but to convert it to other assets.

The other altcoins, i have a decent amount at least for me but it would take me two or three withdraws though with the 0.06 btc withdraw limit.

Better start as early as possible, as you shouldn't be leaving funds on exchanges in the first place unless you actively trade.

Also, please grab a Ledger or a Trezor.

What altcoin should i convert asset to?  Again I have a few altcoin and tiny amount of btc... but amount is a over the 0.06 btc so i have to make multiple withdraw.


Well i kept coins there because the nano ledger s didnt support that coin a while back.. if it did... you had to use myetherwallet with it etc.

[jerry0]

If KYC is an issue, I think you should just withdraw what you have and leave Binance for good. I'm not sure where I stand with KYC, and I haven't decided what to do with some alts I have on Binance yet. The sum is very small, and I don't want to bother with wallets for it, but I'm also not a fan of KYC, so for now I just leave the coins where they are and ignore Binance notifications. Maybe it's not a good strategy, but Binance is a reputable exchange, and KYC is becoming more common throughout the years. What I have on Binance is something I don't intend to touch for a year or more, and I'm sure it'll still be there when I come back. The sum is insignificant to me, so that's why I choose the laziest strategy of doing nothing with the updated policy.

Yea I do not want to deal with KYC on binance.  Again i have altcoin and tiny amount of btc.


So should i just withdraw that altcoin or trade it for btc and then withdraw?


The other issue is that altcoin i have.. its an ETH type of coin.  And I heard there are lot of gas fees when trading ETH type of coins?   That altcoin i have I had it in binance for a long time.  I dont want to sell that altcoin though.  But should i?  Should i sell it for btc or stablecoin usdt or usdc?  Then again, those use ETH as well right?


That is why im confused what to do.


Because if i just had btc in it or stablecoin, i just withdraw it.

[jerry0]

I have an altcoin on binance that I need to withdraw.  I also have a tiny bit of btc and bnb on it as well. 


Basically i have roughly 2000 dollars worth of altcoin and about 8 dollars worth of btc and 5 dollars worth of bnb.


I would like to withdraw everything to my hardware wallet nano ledger s.  I only keep btc and bch in my nano ledger s.




My options seem to be



Sell that 8 dollar worth of btc for usdt/usdc?   Then sell the 5 dollar bnb for usdt/usdc?  Then withdraw either the usdt/usdc and the altcoin to my nano ledger?


Sell that 5 dollar worth of bnb for btc.  Sell that 13 dollar worth of btc for that same altcoin I have.  Then withdraw that altcoin whole balance to my nano ledger?


Sell the altcoin for btc.  That altcoin can only be traded for BTC or ETH.  Sell the 5 dollar worth of bnb fo btc.  Then withdraw the whole btc balance to my nano ledger?



It wouldn't make sense to just


Withdraw Altcoin to nano ledger.  Withdraw btc to nano ledger.  Withdraw bnb to nano ledger.  Since the withdraw fee to withdraw btc is higher than my btc balance?

[tranthidung]

Yea I do not want to deal with KYC on binance.  Again i have altcoin and tiny amount of btc.

Why not convert them all to BNB and withdraw your fund via BNB?

So should i just withdraw that altcoin or trade it for btc and then withdraw?

Is it a hard question? You can find it yourself.

• Trying to make a sell order. You will know that Binance still allow you to do this or not. If you don't want to sell, but still is allowable, you can cancel your order.
• Trying to submit a withdrawal. If it works, it means you are allowed you can make withdrawal which I believe you have, even with restricted account.
• Both scenarios are easy to test, no fee, so why do you not try it yourself in order to get the answer?

Because if i just had btc in it or stablecoin, i just withdraw it.

Convert all to BNB is one of solutions.

[bittraffic]

Is there a way to confirm if ones binance account cannot be allowed to trade and can withdraw only?

Why don't you login to your account and try everything there yourself whether you can trade and withdraw the altcoins you have. Binance has to change many things under them because of the regulations.

Since you have used myetherwallet before just as you said,  then withdraw your altcoins going to a wallet that supports the ERC20 tokens.  Why are you trying to trade now when in fact you said you have been a holder and use Binance as storage.

[jerry0]

What is my best option here?  My issue with keeping that altcoin is im not sure if i could even sell it in the future because I cannot use many exchanges.  It is also an ETH coin so people say im going to pay lot of fees.


But if i trade it all for usdt/usdc... wouldn't i incur lot of fees as well?  I mean i dont mind keep usdt or usdc as its a stablecoin.




The thing that is confusing is what are the withdraw fees for btc, usdt and usdc on binance?  Because i see multiple different chains for each of these.


But I also have to make sure its compatible with the nano ledger as i heard usdt and usdc is only ETH chain?



Are those my three options that I list based on the coins I have and since i want to send it to my nano ledger?  Thing is im confused if i have to pay around 25 dollars to withdraw usdt or usdc from binance to nano ledger?   But I see if its a different network, its only ten or twenty cents?



Bitcoin would cost around 22 dollars or so?

[jerry0]

I only have a nano ledger wallet.  I want to withdraw to that.



I am in my binance account but when you try to sell... do you do market or limit?  Again i wan to know if i could still trade the altcoin now.



But in terms of withdrawing... which of the situations i listed would be best?  Does it cost me a lot withdrawing usdt or usdc to my nano ledger?  I read if you do that... it cost 25 dollars? 

[tranthidung]

What is my best option here?

Log in your account, and make trials, for trade and for withdrawal. You can cancel your trading order or your withdrawal request and Binance won't charge you any fee because of your trials.

Have you ever made any trade, sell order, withdrawal request with your Binance account?

Do this and you can quickly know what you are allowed to do with your account. It takes a few minutes from your side only.

So why don't you do this on your side and keep asking the same questions over again?

[jerry0]

What do you mean make trials for withdraw?  The last time i did a trade on binance was a while back and when I did this, it was me immediating trading a coin for another coin for whatever the current price was.  I am not doing like those market or limit orders where i buy or sell when it hit a certain price.


So i could still test it when doing it instantly?  Example imagine trying to sell altcoin for btc at a certain price.  Like when i click sell altcoin for btc... will it ask for confirmation or does it do it automatically?  Similar to like how you make a wager... does it ask you are you sure with your selection?  Does binance do this?

[ninche]

What do you mean make trials for withdraw?  The last time i did a trade on binance was a while back and when I did this, it was me immediating trading a coin for another coin for whatever the current price was.  I am not doing like those market or limit orders where i buy or sell when it hit a certain price.


So i could still test it when doing it instantly?  Example imagine trying to sell altcoin for btc at a certain price.  Like when i click sell altcoin for btc... will it ask for confirmation or does it do it automatically?  Similar to like how you make a wager... does it ask you are you sure with your selection?  Does binance do this?

no,it will not ask you for confirmation ,the trade will be done immediately if it hits the price

[noorman0]

What do you mean make trials for withdraw?  The last time i did a trade on binance was a while back and when I did this, it was me immediating trading a coin for another coin for whatever the current price was.  I am not doing like those market or limit orders where i buy or sell when it hit a certain price.

Don't be too paranoid to try it dude, it just complicates yourself with time-consuming questions. You have been advised to try to execute your trade which means we understand that it will not risk anything to your account and assets. Actually you can finish your experiment in a few seconds instead of adding similar questions.

will it ask for confirmation or does it do it automatically?

No, if you get it you have to complain to support that it took you 5 secs to read and approve the confirmation. It must be removed

[sunsilk]

https://www.binance.com/en/support/announcement/51bf294e26324211a4731ca998e110ca

It's now a force KYC for everyone who wishes to continue trading in Binance. Everyone has no choice but to proceed if you still want to continue trading there.

But if you don't want to, they're giving you an exit to just have the withdrawal option. What a pain on Binance, they probably are also being pressured doing this because they're popular already.

[jakedeez]

binance is shitty, i would never entrust my identity data to Binance
but if you need it just go and grab a fully verified account under a nominal, there are good sellers here around 

[lexiii]

they're giving you an exit to just have the withdrawal option

They're giving you only part of the money If you have some trashcoins they will stay on the exchange, because for example OMG has a minimum withdrawal of 5 coins (50$).

Upd. I'm wrong. Convert Small Balance to BNB still work for non verified account.

[Woodie]

You can but you have to do it before the deadline ^{Binance gives you a long window to do KYC} if you don't want to submit documents for Intermediate verification (level 2)

I thought level 1 verification is the one you need to provide an ID and selfie which I have personally not done, I guess this is were we part ways with binance. And tbh I foresee many crypto users having not done kyc and once Binance goes ahead with limiting our accounts their user base will be expected to drop!! I hope this mandatory KYC the keep forcing on us doesn't affect the crypto market while we are just registering some market gains for the time being.